Johnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.

• Johnson & Johnson said it plans to pay $6.5 billion to settle nearly all of the thousands of lawsuits in the U.S. claiming its talc-based products caused ovarian cancer.
• The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.
• J&J said the remaining pending lawsuits relate to a rare cancer called mesothelioma and will be addressed outside of the new settlement plan.

https://www.cnbc.com/2024/05/01/johnson-johnson-will-pay-6point5-billion-to-resolve-nearly-all-talc-ovarian-cancer-lawsuits-in-us.html

Also, according to https://www.lawsuit-information-center.com/2-billion-verdict-in-missouri-motivates-jj-to-settle-talcum-powder-lawsuits.html:

This settlement deal only covers the talcum powder claims involving ovarian cancer. J&J has already settled 95% of the talcum power claims involving mesothelioma.

Looks like the talc lawsuits are finally wrapping up? These have kept me on the JNJ sidelines. Any general thoughts on JNJ? It's up 4% on the day from this news.